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Units 1-7/36-38 Albion Street, South Yarra, Vic 3141 For Sale
Units 1-7/36-38 Albion Street, South Yarra, Vic 3141 Units 1-7/36-38 Albion Street, South Yarra, Vic 3141-Image Units 1-7/36-38 Albion Street, South Yarra, Vic 3141-Image Units 1-7/36-38 Albion Street, South Yarra, Vic 3141-Image Units 1-7/36-38 Albion Street, South Yarra, Vic 3141-Image Units 1-7/36-38 Albion Street, South Yarra, Vic 3141-Image Units 1-7/36-38 Albion Street, South Yarra, Vic 3141-Image Units 1-7/36-38 Albion Street, South Yarra, Vic 3141-Image Units 1-7/36-38 Albion Street, South Yarra, Vic 3141-Image Units 1-7/36-38 Albion Street, South Yarra, Vic 3141-Image Units 1-7/36-38 Albion Street, South Yarra, Vic 3141-Image Units 1-7/36-38 Albion Street, South Yarra, Vic 3141-Floorplan Units 1-7/36-38 Albion Street, South Yarra, Vic 3141-Floorplan

Units 1-7/36-38 Albion Street, South Yarra, Vic 3141

Expressions of Interest close Tues 14 Apr 12.00pm

Block Of Units
Type
7
Bedrooms
7
Bathrooms
5
Parkings
377 m²
Area

Last updated on Friday, April 10, 2026 ( See property details for Units 1-7/36-38 Albion Street, South Yarra, Vic 3141)

Expressions of Interest close Tues 14 Apr 12.00pm

  • AI-generated summary for guidance only. We can’t guarantee accuracy -please verify all details independently before deciding.

A rare inner-urban opportunity in South Yarra offering seven apartments with excellent income potential or a prime site for a custom luxury build.

🏡 Property Highlights

  • Prime location just a short walk to South Yarra's top attractions
  • Seven well-maintained apartments ideal for investment or redevelopment
  • Currently generating a lucrative rental income of approximately $136,000 per annum
  • Versatile site suitable for building a luxury home or boutique development (STCA)
  • Close to public transport, Prahran Market, Chapel Street, and Fawkner Park
  • Spacious land size of approximately 377 sqm

✨ Key Features

  • Built-in Robes
  • Open-Plan Living
  • Outdoor Area
  • Secure Parking
  • Waterfront / Views
  • Home Office / Study
  • Balcony
  • Ensuite
  • Dishwasher
  • Pet-Friendly

South Yarra is a highly sought-after inner Melbourne suburb renowned for its vibrant lifestyle, excellent public transport, and proximity to premier shopping and dining precincts. Key points include: 1) Close to Chapel Street's trendy boutiques and cafes, 2) Easy access to public transport options, 3) Surrounded by lush parks like Fawkner Park, 4) Strong rental demand from professionals and students, 5) A vibrant community with a mix of historic and modern amenities.

What is the current rental income and potential for future growth?
The property currently generates approximately $136,000 per annum, with potential for rental growth given the high demand in South Yarra's inner urban market.
Can the site be developed into a luxury home or boutique development?
Yes, the site offers the opportunity to design and build a new luxury residence or boutique development, subject to council approval (STCA).
What amenities and attractions are nearby?
The property is close to Prahran Market, Chapel Street shopping and dining precinct, Fawkner Park, and excellent public transport options.
Is the property suitable for investment purposes?
Absolutely, with seven apartments currently leased and generating strong income, it is an excellent investment opportunity in a highly desirable location.
What are the zoning and planning restrictions?
The property is zoned for potential development, but specific restrictions and requirements should be confirmed with local council planning regulations.
Are there any hidden costs or upcoming maintenance expenses associated with the property? Have all necessary planning approvals and permits been obtained for potential redevelopment? Are there any existing easements, covenants, or zoning restrictions affecting the property? Is there any history of flooding, bushfire risk, or environmental concerns on the site? Are there any planned developments or construction projects nearby that could impact the property’s value or livability? What are the strata or body corporate fees and responsibilities, if applicable? Are there any noise or nuisance issues from neighboring properties? Has the property been inspected for structural defects or pest issues? What are the ongoing costs for council rates, water, and utilities? Is the property compliant with all current building codes and safety standards?

Units 1-7/36-38 Albion Street, South Yarra, Vic 3141 - More Details

Expressions of Interest close Tues 14 Apr 12.00pm

Nestled within a prized location just a short walk to every South Yarra drawcard, this superb enclave of seven apartments represents a rewarding addition to any investment portfolio or a sensational site to build a new luxury home or boutique development (STCA).

Currently leased, the three one-bedroom and four studio apartments are in ideal condition to continue as a lucrative income generator in a highly coveted inner urban location close to public transport, Prahran Market, Chapel Street, Commercial Road and Toorak Road shops and eateries and Fawkner Park. Passing rental $136,000 per annum approx.

Alternatively, in a quiet, peaceful pocket, the superb site provides the perfect opportunity to make an architectural statement with a new home or boutique development designed to your own requirements and tastes.

In a location always in demand, this is an increasingly rare opportunity.
Land size: 377sqm approx.
Type
Block Of Units
Bedrooms
7
Bathrooms
7
Parkings
5
Area
377 m²

Price guide

View Statement Of Information

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Map & nearby places — Units 1-7/36-38 Albion Street, South Yarra, Vic 3141

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